Diebold Completes Wincor Nixdorf Acquisition

by Edward O'Brien 0

Diebold, Incorporated announced that it has successfully completed the acquisition of Wincor Nixdorf AG through its voluntary takeover offer for all the company’s ordinary shares. The combined organization began operating as Diebold Nixdorf on Tuesday, Aug. 16.

Under the terms of the takeover offer, Wincor Nixdorf shareholders received €38.98 in cash plus 0.434 Diebold common shares in exchange for each Wincor Nixdorf share. The total offer consideration consists of approximately €891.7 million in cash and 9,928,514 newly issued Diebold common shares. To the extent that Wincor Nixdorf shareholders are entitled to fractional shares, those fractional entitlements will be aggregated and sold in the market and the proceeds of such sale distributed pro rata no later than Aug. 29, 2016.

The Diebold common shares issued to Wincor Nixdorf shareholders commenced trading on the NYSE under the symbol DBD, and all Diebold common shares commenced trading on the Frankfurt Stock Exchange under ISIN US2536511031 (symbol DBD).
In the United Kingdom, the Diebold and Wincor Nixdorf brands and operations will remain distinct pending completion of the Competition and Markets Authority’s review of the transaction.

The long-awaited completion of Diebold’s acquisition of Wincor Nixdorf will likely accelerate changes in both the ATM and branch channels. Both organizations have been working on continued advancements on intelligent deposit/deposit automation ATMs and branch automation products and solutions, and the convergence mobile banking and ATMs. The combined entity offers the potential for further cross-channel collaboration as well, and will add pressure to other manufacturers and channels systems providers to do the same.

Overview by Ed O’Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group

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